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FAMILY INVESTMENT COMPANIES

With Corporation Tax at 20%, falling by April 2020 to 17%, compared with personal income tax rates of up to 45%, as well as the ability of a company to receive dividend income tax free, some wealthy individuals are attracted by the advantages of holding portfolio investments through a company.

The expressions “personal investment company” or “family investment company” are commonly used to describe such arrangements.

New National Living Wage from 1^st April 2016 to boost living standards.

The government is reminding employers that a new National Living Wage (NLW) is being introduced from 1 April 2016 and advising employers to get ready for this change.

The NLW rate will be payable to workers in the UK who are 25 or over. For workers currently being paid the National Minimum Wage (NMW) this will mean a 50 pence increase in their hourly earnings.

We would like to take this opportunity to update you on February’s activity within Aaron Associates. Our tax consultancy offer a range of taxation services.
 
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Yes it is that time of the year…again…so let’s get down to business

If your sending a paper tax return it must reach the HMRC by midnight 31st October. Although this applies only to the submission of paper tax returns to the HRMC, there are a number of advantages of completing the personal tax return now rather than waiting for the final tax deadline in Jan 2014 and risking unnecessary penalties.